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Daniel Fuss

The vice-chairman of Boston-based mutual fund Loomis Sayles talks to US Credit about the kind of portfolio strategies the firm will be using as we move into 2005

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High yield has been a steady performer recently, and contributed to excellent returns in many portfolios last year. What allocation do your funds have in high yield, and when—if not already—is the time to begin taking a defensive position on the sector?

The Loomis Sayles Bond Fund currently has approximately 32.5% of the portfolio in securities rated below investment grade. This is slightly

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